Bulls, Bears & The Lion

findvikas

findvikas

Well-Known Member
#891
#891
That is what I am trying to do (sell on the upper side of range and buy near lower side) unless this range gets broken which is getting scary every day...



A breakout/breakdown will come for sure sooner than later because its been over 9 months and we are not moving anywhere.

The last I bought was near bottom.. as I bought at 4940.. for sure it dipped till 4785 but I holded my positions as we did not break down below this range but averaged them. Now I see no point in buying fresh longs but selling your existing longs or adding more shorts.... 5150 may come and just little above that is going to be my stop on shorts.
 
A

AlokTewari

Well-Known Member
#895
#895
Dow is down 100+ points one day & up 200+ points next day. Sometimes it could be up 100 points by mid day & end up in red by close & vice versa. Dow resembles more like a roller coaster than representing serious economic indicator. U.S. or world economy could not be fluctuating like a pendulum every day. One needs to be a gambler to predict how Dow will close today or tomorrow or day after.

Cheers !!!

Alok Tewari
 
findvikas

findvikas

Well-Known Member
#896
#896
N

nimish_rulz

Well-Known Member
#897
#897
findvikas said:
Robert Prechter’s 10-page April Theorist, “A Deadly Bearish Picture”, is free (registration required) here:

http://www.elliottwave.com/club/Safeguard-Your-Financial-Future/default.aspx?code=42255


Rapidshare Mirror: http://rapidshare.com/files/394790414/1004ewt-free.pdf.html
Click to expand...
This guy Prechter and also Roubini are completely fake they have been calling bear market since they were born. I can show you when he has called bear markets at bottom of bear markets. Everytime he has predicted major corrections and so does roubini markets rally. Have a look at his predictions in Feb when dow broke 10,000. Elliot wave is nothing but a hoax u keep plotting waves eventually one will get right. 1, then 1(a) 1 (b) i ii etc. What a load of bullocks. If something works for you you should stick with it. I have found Fibonacci more reliable than elliot waves. If you look at the fall from recent highs in the dow it actually touched 76.2% fib levels from the peak of bull run in 2007 and then retraced back. However, it also bounced back from the 23.6% retracement from the lows to the recent highs. I would say dont listen to these so called dr dooms there are firms like goldman JP morgan who are asking their clients to buy aggressively in every fall there target on S&P is 1250-1300 by the year end. Morgan Stanleys view on Indian market is 35% bull run probability which will lead sensex above life time highs 50% chance that we will end flat to 10-15% up on the Year. And only 15% chance that the current correction would change into a bear market with 15,000 being absolute bottom.

These guys are asking their clients to stay fully invested and these are not any clients these are high net worth individuals. Morgan Stanley came out with a report on 12th of April asking to be bearish on equity and overweight cash and gold(another form of cash). They expected the European MSCI index can fall to 1070 levels but with improved earnings bottom can be formed around 1130. This exactly where the rebound started to happen this is almost 20% fall from its peak.

I think it would be wise to see how market goes like your thread says and it would be wise to be bullish with a fall of more than 2% in global market to exit.

Just my views.


Here is the analysis of Pretcher since the history of his predictions
http://www.cxoadvisory.com/individual-gurus/robert-prechter/
 
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findvikas

findvikas

Well-Known Member
#898
#898
I know 9 out of 10 people hate him and the 10th person is Prechter himself :)

I did not shared it to start a controversy neither do I follow him or EWT which is over complicated. Every analyst has his/her reasoning and it is not scientifically proven method which works 100% of times. He is a good author than an analyst and his writing has the power to make the world believe in what he is saying.

The thing that is wise to do here is look for opportunities on every side, we are traders and we should look only at trading opportunities instead of being permanent bull or bear.

For today, DOW can look for rally given the current setup and trade near 10450. Lets see if it is able to breach 10500 levels.
 
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